Winter Park, Florida 22/06/2016 - Alcoa plans on filing paperwork next week with the Securities and Exchange Commission (SEC) that will reveal exactly how the company will be split into two.
The registration statement on Form 10 will give details on how it will handle its debt and structure its pension obligations, among other items.
"The filing of the Form 10 is an important milestone in the company's plan to separate into two independent, publicly-traded companies," said Alcoa, which plans on filing the document at 7 am EST on Wednesday, June 29.
The upstream company, which will retain the Alcoa name, will comprise five business units that make up global primary products - bauxite, alumina, aluminium, casting and energy.
The downstream company will be called 'Arconic'. It will be a value-added venture that includes divisions for global rolled products, engineered products and transportation and construction.
Klaus Kleinfeld, Alcoa chairman and CEO, will lead Arconic as chairman and CEO. He will also serve as chairman of the upstream company for the initial transition.
Ken Giacobbe will serve as Arconic CFO. Giacobbe is currently CFO of Alcoa's engineered products and solutions business.
Roy Harvey, executive vice president and Alcoa president of global primary products, will serve as CEO of the new upstream company.
William Oplinger, executive vice president and CFO of Alcoa, will serve as the upstream company's CFO.